The challenges around security of gas supply are rapidly evolving More »»
The IEA defines energy security as the uninterrupted availability of energy sources at an affordable price. Energy security has many aspects: long-term energy security mainly deals with timely investments to supply energy in line with economic developments and environmental needs. On the other hand, short-term energy security focuses on the ability of the energy system to react promptly to sudden changes in the supply-demand balance.
World energy markets continue to be vulnerable to disruptions precipitated by events ranging from geo-political strife to natural disasters. As oil demand and imports continue to grow, the IEA emergency response capability will remain essential. But energy security concerns go beyond oil.
The Ukraine-Russia gas dispute in January 2009 caused the largest natural gas supply crisis in Europe’s history. With increasingly integrated electricity grids, blackouts can cascade and affect multiple economies simultaneously. The IEA is working to identify measures to prevent and react to supply disruptions across all sources of energy.